chapter 6 Flashcards
Andrew Carnegie
owner of largest steel company
produced more steel than all the favorites in Europe
Bessemer process
injecting air into molten iron to remove carbon and other impurities
CF Dowd
came up with concept of time zones and railroad time
Christopher sholes
invented the typewriter
credit moblier
railroad company formed by officials of the Union Pacific to pocket more profit for themselves
scheme included congressmen and Vice President
Edwin drake
successfully used a steam engine to drill for oil
started oil boom in America
Eugene v debs
formed the American railway Union which focused on unskilled and semiskilled laborers (larger share of profits for working classes)
George Pullman
built a factory and town to produce sleeping cars and other railway cars
granger laws
Series of legislation across the Midwest to protect farmers from abuses by the railroads.
haymaker affair
3,000 people gathered to protest police brutality
bomb was thrown at police. Eight people charged with inciting a riot
public doesn’t like unionism
holding company
did nothing but buy out the stock of competitors
consolidate businesses into one monopoly.
horizontal integration
Buying out competitors (similar products merge)
PRICE
industrial workers of the world
group of radical unionists and socialists
included miners, lumberers, and cannery and dock workers.
interstate commerce act
supervise railroad activity and set rates.
John d Rockefeller
established Standard Oil
largest and most powerful company in America.
company holds other company’s stock in trust agreements to control an industry.